TMFBent (99.75)

Bernanke Stole My Milk Money

10

Of course, none of this matters much to well-off, ivory-tower bank-bailer-outers like Ben and his gaggle of nodding bobbleheads. They look at fake inflation numbers that make them feel better about insane interest-rate cuts and "liquidity" they've been throwing out in order to try and re-inflate an economic bubble that they should have popped long ago.

The food and beverages index rose 0.9 percent in April. The indexfor food at home increased 1.5 percent, following a 0.2 percent rise inMarch. Each of the six major grocery store food groups contributed to thelarger advance in April. The index for fruits and vegetables, which rose0.1 percent in March, increased 2.0 percent in April. The indexes forfresh fruits and for processed fruits and vegetables increased 3.2 and 3.4percent, respectively, while the index for fresh vegetables declined 0.2percent. The index for cereal and bakery products, which increased 1.3percent in March, rose 1.4 percent in April. Prices for bread increased1.5 percent and were 14.1 percent higher than a year earlier. The indexfor meats, poultry, fish, and eggs, which was virtually unchanged inMarch, advanced 0.9 percent in April. A 1.1 percent decline in beefprices was more than offset by increases in the indexes for pork, for fishand seafood, and for poultry--up 3.4, 2.6, and 0.7 percent, respectively.The index for dairy products turned up in April, increasing 1.2 percent.Milk prices rose 0.9 percent and were 13.5 percent higher than in April2007. The index for nonalcoholic beverages increased 1.7 percent,reflecting large price increases for coffee and for carbonated drinks--up4.0 and 2.2 percent, respectively. The index for other food at home rose1.9 percent in April, reflecting large increases in most categories. Inparticular, the indexes for butter and for margarine increased 7.8 and 6.5percent, respectively. The other two components of the food and beveragesindex--food away from home and alcoholic beverages--increased 0.3 and 0.6percent, respectively.

___________________________________________________________________________Gasoline prices rose 5.6 percent in April. Compared to a year ago, theseprices were up 20.9 percent. Gasoline prices increase seasonally duringthe first five months of the year, with the largest increases occurring inMarch and April and decline seasonally for the remainder of the year.___________________________________________________________________________

Those lines to set off the excuse aren't added by me; they're in the press release. In other words, "Hey, newsroom drones! Pay no attention to the man behind that curtain. Sure, his toes are pointing skyward and that seems like a lot of blood. But we assure you, his recumbent position and fly-specked, glassy eyes are the result of an unrelated bout of healthful narcolepsy."

Here's some more awful news for people who live in the real world, not the fantasyland inhabited by Bennie and the Inkjets.

The index for fuel oil rose 4.4 percent and was52.6 percent higher than in April 2007. The indexes for natural gas andfor electricity rose 4.8 and 1.5 percent, respectively. During the last12 months charges for natural gas and for electricity increased 10.9 and5.0 percent, respectively.

Whew. I was beginning to worry about those poor sods next door having to cope with a reduced standard of living. I'll dash over and inform them that those price increases don't really count. They oughta feel much better!